BTC appearing overbought as ETH attempts a breakout

Today’s edition of OKEx Insights’ Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.

The price of Bitcoin ( BTC) is up 2.5% across global cryptocurrency exchanges this morning and is trading around 18,150 USDT on OKEx.

Over the past 24 hours, major altcoins have also seen significant rallies. The price of Ether (ETH) and Chainlink’s token are both up by more than 4%, while Litecoin (LTC) and Polkadot (DOT) are both up by more than 10%.

The altcoin rally has helped increase the total cryptocurrency market capitalization by 3% to over $518 billion, according to CoinGecko. BTC dominance, meanwhile, is sitting just over 65%.

Despite the continued uptick in COVID-19 cases in the United States and elsewhere, traditional markets are still making every effort to remain positive. The Dow, S&P 500 and Nasdaq Composite all scraped out gains yesterday after experiencing a rocky morning. However, with lockdown restrictions still in force, some analysts are expecting decreased holiday spending.

Top altcoin gainers and losers

  • QUN/USDT +90.04%
  • ROAD/USDT +36.68%
  • MLN/USDT +36.11%
  • MEME/USDT -8.26%
  • INX/USDT -9.81%
  • ZYRO/USDT -12.63%

The top performers on OKEx over the past 24 hours have seen significantly higher gains than the worst performers have seen losses. QUN is up an astonishing 90% while ZYRO, the biggest loser, is only down 12.63%.

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BTC appearing overbought as ETH attempts a breakout was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Publication date: 
11/20/2020 - 11:08

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.